Ballentine Partners LLC Acquires 1,474 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Ballentine Partners LLC lifted its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,886 shares of the bank’s stock after purchasing an additional 1,474 shares during the quarter. Ballentine Partners LLC’s holdings in Sumitomo Mitsui Financial Group were worth $1,071,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC increased its position in Sumitomo Mitsui Financial Group by 59.8% during the 1st quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank’s stock valued at $22,250,000 after buying an additional 538,823 shares in the last quarter. Allianz SE purchased a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter valued at $3,401,000. Calamos Wealth Management LLC bought a new stake in Sumitomo Mitsui Financial Group in the 1st quarter worth about $2,706,000. Myriad Asset Management US LP bought a new position in Sumitomo Mitsui Financial Group during the second quarter valued at approximately $2,561,000. Finally, Northern Trust Corp grew its holdings in shares of Sumitomo Mitsui Financial Group by 3.2% in the first quarter. Northern Trust Corp now owns 5,188,817 shares of the bank’s stock worth $80,219,000 after acquiring an additional 159,320 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SMFG shares. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Finally, Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd. Two analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Sumitomo Mitsui Financial Group Trading Down 0.4%

Shares of SMFG opened at $16.86 on Friday. The company’s fifty day moving average is $16.25 and its 200 day moving average is $15.22. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $11.83 and a fifty-two week high of $17.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $108.36 billion, a PE ratio of 17.74, a P/E/G ratio of 0.82 and a beta of 0.39.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.09. The firm had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $1,094.67 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. Sell-side analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.